281 Gardner Ave UNIT E3New LondonCT06320
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in New London at 281 Gardner Ave UNIT E3, New London, CT, 06320 priced at $164,900 pairs $1,238/mo rent with after a $807/mo payment. Total monthly income equals $1,238/mo. Return on cash invested is 11.52% in year one, and rental yield stands at 9.01% on a $164,900 basis. Equity gained on principal adds $1,064/yr, and 5% annual appreciation accumulates to $45,559 by year five. Five-year ROI measures 62.64% and total cumulative return in cash reaches $34,240. For financing, Ziffy Mortgage’s DSCR program evaluates $1,238/mo property income against a $807/mo payment instead of your W2s, 1099s, or Tax returns.
Condo
Built in 1967
N/A lot
$N/A/sqft
$500 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06320, New London, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,582 (100%) |
| Owner Occupied HU | 4,019 (31.9%) |
| Renter Occupied HU | 7,156 (56.9%) |
| Vacant Housing Units | 1,407 (11.2%) |
| Median Home Value | $291,296 |
| Average Home Value | $336,354 |
Housing Distribution
Address Breakdown
Residential
11,305
Single Family
9,237
Multi-Family
2,068
Businesses
1,322
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Listed by: Geoff Smith • RE/MAX on the Bay
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24080074
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.